Monday, July 20, 2009

Prince Sultan's displeasure

A source shares this about Prince Sultan: "Prince Sultan is out of the country not so much for health reasons, but because he is deeply disappointed with King Abdullah. The King had vast tracts of land 'belonging to' the defense ministry (thus belonging to Sultan) confiscated because they were 'improperly acquired' over many years. To put this into context perhaps, many princes make considerable wealth through land ownership. They can virtually claim any un-owned land as their own and usually sell it to the govt for vast sums. This usually involves areas where large anticipated projects are to be built. However, this was going on mostly in the 70's and 80's , less so in later years when the oil crunch appeared."